GoKawiilReddit to push users toward logged-in access as search referrals fall
Reddit announced during its Q3 earnings call that it will shift toward a primarily logged-in experience, citing a drop of more than 1 million weekly search referrals in October. The company's global daily active users held flat at 130.3 million, but U.S. daily actives fell to 50.7 million from 53.2 million in Q2, a 2% year-over-year decline. Reddit warned daily active users could drop by a low double-digit percentage next quarter if the trend continues, even as revenue rose 53% year-over-year to $895 million.